Saraswati Saree IPO Subscription Status

Saraswati Saree Depot IPO- Day 3 Subscription at 106.52 Times

Saraswati Saree Depot's IPO will close on 14 August 2024, and shares of the company are likely to be listed on 20 August 2024. This means Saraswati Saree Depot will make a trading debut on the NSE Mainboard platform. 

On 14th August 2024, the IPO of Saraswati Saree Depot witnessed remarkable investor interest, with bids received for an astounding 1,06,52,41,890 shares, significantly surpassing the 1,00,00,800 shares available. This overwhelming response resulted in an oversubscription rate of 106.52 times by the end of the third day.

Here are the subscription details for Saraswati Saree Depot IPO  as of Day 3 (14th August 2024 at 4:09:08 PM)

QIBs, which include entities like mutual funds, insurance companies, and foreign portfolio investors, typically represent the more stable and long-term investment interests. On the other hand, HNIs/NIIs, which are wealthy individuals and smaller institutions, often look for more aggressive returns. The robust response from these segments signals strong market confidence in Saraswati Saree Depot's potential and growth trajectory.

Subscription Status of Saraswati Saree Depot IPO for Days 1,2 and 

On day 1, Saraswati Saree Depot IPO was subscribed 4.45 times. By day 2, the subscription status had risen to 16.48 times; on day 3, it reached 106.52 times.

Here are the complete subscription details for the Saraswati Saree Depot IPO by category as of Day 3 (14th August 2024 at 4:09:08 PM)

The Saraswati Saree Depot IPO garnered a strong and varied response from different investor categories, reflecting significant market interest. Qualified Institutional Buyers (QIBs) showed robust confidence in the offering, subscribing at 64.12 times the shares allocated to them, with a total bid for 32,06,47,500 shares, amounting to Rs 5,130.36 crore. 
Non-institutional investors (NIIs) exhibited exceptional enthusiasm, with an overall subscription of 357.84 times, split into 389.28 times for bids above ₹10 lahks (bNII) and 294.95 times for bids below ₹10 lahks (sNII), totalling Rs 8,588.75 crore.

Retail investors also demonstrated substantial participation, subscribing at 59.37 times the offered shares, with bids amounting to Rs 3,324.76 crore. The IPO was oversubscribed by 106.52 times, with a cumulative bid for 1,06,52,41,890 shares against the 1,00,00,800 shares offered, reflecting the high demand across all investor segments. The total number of applications received was 2,085,219, indicating widespread investor interest in the IPO.

Saraswati Saree Depot IPO Day 2 Subscription at 15.94 Times: Should You Subscribe or Not?

At the end of Day 2 on 13 August 2024, Saraswati Saree Depot IPO subscribed to 15.94 times. If you talk about public issues, they subscribed to 19.98 times in the retail segment, 1.30 times in QIB, and around 55.32 times in the HII/NII category on 13 August 2024. 

Here are the subscription details for Saraswati Saree Depot IPO as of Day 2: (13th August 2024 at 4:45:08 PM):

QIBs, which include large institutional investors like mutual funds and insurance companies, typically assess the market before committing substantial capital. In contrast, HNIs/NIIs, comprising wealthy individuals and smaller institutions, tend to be more aggressive in their early subscriptions, driving up the demand. The subscription figures highlight the varied strategies of these investor classes and the overall positive market sentiment towards Saraswati Saree Depot Ltd.

Here are the subscription details for Saraswati Saree  IPO by category as of Day 2: (13th August 2024 at 4:45:08 PM):

On day 1, Saraswati Saree Depot IPO was subscribed 4.45 times. But by the end of day 2, the subscription status had increased to times. The final status will be evident by the end of day 3, i.e., 14 August 2024. Saraswati Saree Depot IPO received a varied response from different investor categories. Qualified Institutional Buyers (QIBs) subscribed at 1.30 times, High Net-Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) at 55.32 times, and Retail Investors at 19.98 times. Overall, Esprit Stones Limited IPO was subscribed 15.94 times.

Saraswati Saree Depot IPO Day 1 Subscription at 4.38 Times: Should You Subscribe or Not?

The Saraswati Saree Depot IPO will close on 14 August 2024 and make its trading debut on the NSE SME platform. As of 12 August 2024, the Saraswati Saree Depot IPO received bids for 27,27,000 shares, significantly exceeding the 13,14,400 shares available for subscription. This indicates that the IPO was oversubscribed by 2.07 times by the end of Day 1. The strong response from investors reflects the market's confidence in Saraswati Saree Depot's business model and future growth potential.

Here are the subscription details for Saraswati Saree Depot IPO as of Day 1:

On the first day of subscription for the Saraswati Saree Depot IPO, retail investors emerged as the primary drivers, showing a strong interest in the offering. High Net Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) also participated, but to a lesser extent, indicating a cautious approach. Notably, there was no interest from Qualified Institutional Buyers (QIBs) on Day 1. However, it's common for QIBs and HNIs/NIIs to significantly increase their subscriptions in the final hours of the last subscription day, as they often wait to assess the market sentiment.

The overall subscription figures provided do not account for the IPO's anchor portion or market-making segment, which are typically not included in the initial public subscription data. QIBs, which are large institutional investors such as mutual funds and insurance companies, generally significantly impact the final subscription figures. On the other hand, HNIs/NIIs, consisting of wealthy individual investors and smaller institutions, tend to contribute notably towards the latter part of the subscription period.

The trend observed on the first day suggests that retail investors are showing confidence in the Saraswati Saree Depot IPO. It will be interesting to see how the interest from QIBs and HNIs/NIIs evolves as the subscription period progresses.

Here are the subscription details for Saraswati Saree  IPO by category as of Day 1:

Saraswati Saree Depot IPO saw strong interest across all investor categories. Qualified Institutions subscribed 1.19 times, with bids for 59,59,980 shares against 50,00,400 offered. Non-institutional buyers showed even greater interest, with the bNII category subscribing 12.65 times and sNII at 12.56 times. Retail investors also exhibited robust demand, with a subscription subscription of 5.40 times. Overall, the IPO was oversubscribed 4.38 times, receiving bids for 4,37,78,970 shares against 1,00,00,800 offered, amounting to ₹700.464 crores.

About Saraswati Saree Depot Limited 

Saraswati Saree Depot Limited was founded in 1996 and specialises in producing and distributing women's clothing. The company's primary business is the wholesale (B2B) saree segment. It also wholesales various items of women's clothing, including bottoms, lehengas, kurtis, dress materials, and blouses.

The organisation frequently purchases sarees and other women's clothing items from over 900 vendors and weavers in various Indian states. The product library currently has over 300,000 distinct SKUs listed. Focusing on Maharashtra, Goa, Karnataka, and Tamil Nadu, the company primarily distributes its goods in the southern and western regions. As of fiscal year 2024, it had served over 13,000 distinct consumers.

Sarees are available in product categories such as occasion, fabric, weaving, and embellishment at the organisation's stores. Sales of sarees provide more than 90% of the company's income. 314 people worked at the company in various departments as of June 30, 2024.
 

Highlights of the Saraswati Saree Depot IPO

• IPO price band: ₹152 to ₹160 per share.
• Minimum application lot size: 90 shares.
• Minimum investment for retail investors: ₹14,400.
• The minimum investment for sNNI and bNII is 14 lots (1,260 shares) or 70 lots (6,300 shares), amounting to ₹1,008,000.
• Registrar: Unistone Capital Pvt Ltd.